I am in the EU and use a VPN with servers in other EU countries and don’t particularly try to hide my location from Steam when it comes to billing, but this still feels kind of worrying. What if they also suddenly decide to purge my account with all of the games I have?

Or, for example, getting an affordable non-region-locked (global) key, or even a key that’s no longer for sale on Steam itself (like the first DIRT Rally game) from gray market sites like G2A.

Revoking any product that they find problematic or refusing to activate it, I could understand. But blocking the whole account? Kind of crazy.